Public Employees Retirement System of Ohio Reduces Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Pembina Pipeline Corp. by 36.0%, owning 76,634 shares worth approximately $2.87 million after selling 43,066 shares in the 2nd quarter.
• Several hedge funds have increased their stakes in Pembina Pipeline, notably Goldman Sachs with a 78.1% increase and The Manufacturers Life Insurance Company with a 136.7% increase during the 1st quarter.
• Pembina Pipeline recently declared an increased quarterly dividend of $0.71 per share, yielding 7.1% annually, up from the previous $0.51.

Public Employees Retirement System of Ohio reduced its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 36.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 76,634 shares of the pipeline company's stock after selling 43,066 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Pembina Pipeline were worth $2,872,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PBA. Goldman Sachs Group Inc. raised its holdings in shares of Pembina Pipeline by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company's stock valued at $283,770,000 after buying an additional 3,108,920 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Pembina Pipeline by 136.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,995,460 shares of the pipeline company's stock worth $160,681,000 after purchasing an additional 2,307,634 shares during the last quarter. Nuveen LLC purchased a new stake in Pembina Pipeline during the 1st quarter worth approximately $83,743,000. Invesco Ltd. increased its holdings in Pembina Pipeline by 55.2% during the 1st quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company's stock worth $100,961,000 after purchasing an additional 897,386 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Pembina Pipeline by 27.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,329,122 shares of the pipeline company's stock worth $133,265,000 after purchasing an additional 713,017 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PBA shares. Raymond James Financial restated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Wells Fargo & Company downgraded Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Finally, Jefferies Financial Group downgraded Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

Pembina Pipeline Trading Down 1.3%

NYSE:PBA opened at $39.92 on Thursday. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $43.44. The firm has a market capitalization of $23.19 billion, a P/E ratio of 18.74 and a beta of 0.76. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. The business has a 50 day simple moving average of $38.01 and a 200 day simple moving average of $37.87.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a dividend of $0.71 per share. The ex-dividend date was Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a yield of 7.1%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's payout ratio is presently 97.18%.

Pembina Pipeline Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.

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